29 Mar 2010

WTO predicting global growth of 10%

1:34 pm on 29 March 2010

The World Trade Organisation expects global trade to grow by almost 10% this year as the world economy rebounds from last year's severe downturn.

The volume of world merchandise exports fell 12% last year - its sharpest decline in more than 70 years, the BBC reports.

But the World Trade Organisation expects it to bounce back and record growth of 9.5% this year.

The organisation's director general Pascal Lamy says the world can see the light at the end of the tunnel.

Economists believe it will take another year for trade volumes to surpass the peak levels of 2008.